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Gifts of Securities
Giving That Makes Sense
Gifts to the University of Saint Joseph that are made with the transfer of appreciated long-term securities (held for more than a year) can make good sense for a donor.
These gifts, if handled correctly, may generate a favorable tax benefit to the donor. In most cases, donors are advised to transfer the actual security, versus selling the asset and sending cash, in order to maximize any potential tax benefit and to avoid the potential of unnecessary capital gains taxes.
Giving Procedure
Do not have your broker sell your securities before giving them to the University, or you will have to pay a capital gains tax. Follow this procedure:
How to Transfer Your Gift of Securities to the University of Saint Joseph
Instruct your broker to transfer your gift of securities as follows:
To transfer shares from a Fidelity account:
University of Saint Joseph, Acct # Z70-900095, Tax ID # 06-0646829
Provide the number of shares, descriptions of shares, and symbol or CUSIP #.
To transfer shares from a non-Fidelity account:
Fidelity Investments, DTC #0226
for University of Saint Joseph, Acct # Z70-900095, Tax ID # 06-0646829
Provide the number of shares, descriptions of shares, and symbol or CUSIP #.
If your broker has questions, they can contact the Fidelity office where we have our account:
Fidelity Investments
29 South Main Street
West Hartford, CT 06107
Phone: 860.521.2077
Checks can be mailed directly to:
The Office of Institutional Advancement
University of Saint Joseph
1678 Asylum Avenue
West Hartford, CT 06117
If your broker is unable to transfer your securities to University of Saint Joseph’s Fidelity Investments account, please contact the Office of Institutional Advancement at 860.231.5291.
Acknowledgement Procedure
The value of a gift of stock is the average of the high and the low on the date of the gift. The date of the gift is recorded as the date the securities are received by the University or, for mailed gifts, the postmark shown on the envelope.
The University provides a gift receipt indicating the number of shares received, name of stock, and date of transaction.
The donor receives credit for a gift based upon the value of the gift of stock on the date of transfer to the University, not the amount realized by the sale of this stock after the gift has been made. The amount of this gift credit is mentioned in an acknowledgment letter, but donors are urged to check with their tax advisors regarding the amount of the gift for tax purposes.